According to Hart Energy News, the latest analysis by Stratas Advisors shows that despite the slowdown in global gasoline sales growth, global gasoline demand is expected to continue to grow by 2020.
The number of newly registered vehicles is larger than that of scrapped vehicles. Stratas Advisors predicts that gasoline production will continue to grow as new gasoline production comes online in the next few years and as global refining capacity continues to invest and expand.
Christopher Brown, manager of Stratas Advisors Global Automotive Services, said: “In the short term, new registrations in the automotive industry are closely related to macroeconomic indicators. We have seen a slight decrease in the number of new car registrations in the world, and their economies have stabilized or begun to retreat.
He added: “Vehicle growth, power system changes and economic prospects will all affect gasoline demand across the country. Globally, vehicle dynamic changes tend to be slower than new vehicle registration, so slowing down new vehicle registration does not necessarily mean that the country’s total demand for gasoline is declining.